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Facebook, Waze reportedly call off acquisition deal

US: Facebook has ended billion-dollar talks to acquire Waze, a free social mapping and navigation application, AllThingsD reported, citing unidentified sources familiar with the matter.

Waze has 47 million drivers contributing real-time information to its app. As a result, Waze provides turn-by-turn directions based on current road conditions.

Google also has been in talks with Waze, Reuters reported, also based on unnamed sources.

Source: CNBC